1894-95.] THE FUR TKADE. 75 



But it could not be foreseen that the astute Franklin would obtain 

 almost without asking, from the easy-going British plenipotentiary, the 

 whole of that vast and valuable territory lying between the Ohio, the 

 Mississippi, and the great lakes. It only remained for them to enter into 

 possession. This, however, was no easy task, for the Indians were 

 intensely hostile, and the new republic was weak in administrative ability. 



The original North-west Fur Company, called at the time the "sixteen 

 share concern," had dissolved at the end of a single year. In 1781, a 

 new company, known as the " three share concern," was formed for 

 one year, which did not, however, embrace the English River nor 

 Mississippi within the scope of its operations. The success of this enter- 

 prise was sufficient to convince the merchants generally of the benefits 

 of combination, and the number of "adventurers" trading in the North- 

 west had in the meantime been reduced to twelve. Consequently, in 

 October, 1783, a general partnership was agreed upon for five years, in 

 which each stockholder was assigned an interest in proportion to his 

 previous trade. The stock was divided into fifteen shares, of which 9^ 

 were allotted to non-residents. The expectations of profit were then so 

 limited that one of the old traders readily accepted an offer of an 

 annuity of 4,000 livres {£166, 13s., 4d. currency) in lieu of dividends. 

 He lived to see a clear profit of i^2,ooo sterling derived from a single 

 share. 



The announcement of the terms upon which peace had been concluded 

 overwhelmed the merchants of Montreal with amazement and dismay, 

 for they not unnaturally feared that the fur trade within the frontier of 

 the United States would at once and forever be lost to them. 



These apprehensions, however, soon stimulated them to make increas- 

 ed exertions to extend their trade in the Canadian North-west. 



In April, 1784, Benjamin Frobisher, one of the most active partners in 

 the new North-west Fur Company, wrote to the Hon. Adam Mabane, a 

 member of the Executive Council, asking definite information respecting 

 the international boundary westward from Lake Superior, as he suspected 

 that the Grand Portage was included by the treaty within the United 

 States, as actually proved to be the case. At the same time he requested 

 a passport for twenty-eight long canoes, valued with their cargoes at 

 ;^20,000, which the Company intended to desj^atch to the North-west 

 in May. 



" This large supply," he said, "added to the propert)^ the Company 

 have already in that country, demands their utmost attention. They do 

 not know how soon they may be deprived of the immediate, and at 

 present the only, communication from Lake Superior, and on that 



